RBC Capital upgraded Air Canada (ACDVF) to Outperform from Sector Perform with a price target of C$25, up from C$16. The company navigated a significant drop in trans-border demand effectively in Q1, which demonstrates its diverse network and ability to adapt quickly to an evolving environment, the analyst tells investors in a research note. RBC says this is going to drive a re-rate higher in the shares.
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